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Fly News Breaks for August 5, 2015
MNK
Aug 5, 2015 | 07:19 EDT
Jefferies analyst Anthony Petrone views the valuation of Mallinckrodt as "excessively cheap" following the post-earnings pullback in shares. The company's longer-term outlook is still attractive and M&A remains a key theme to the story, Petrone tells investors in a research note. He cut his price target for shares to $130 from $145 and keeps a Buy rating on the name. JPMorgan this morning downgraded Mallinckrodt to Neutral.
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